Porsche has partnered with XAIN which is a startup based in Berlin to test the application of blockchain technology directly in vehicles.
Porsche has become the first vehicle manufacturer to test and implement the blockchain in their cars successfully. The German automobile manufacturer has been developing and testing applications for about three months and has now introduced the blockchain technology into their Porsche Panamera.
In a press release released last week by the company, the applications tested consist of locking/unlocking the car using a mobile app, encrypted data logging and temporary access authorizations. Porsche expectations are that these applications can be advanced further to enhance autonomous driving purposes.
Oliver Döring, the Financial Strategist at Porsche, said they could use blockchain to transfer data even faster and securely, thus giving customers a peace of mind for the future. He further stated that their role was to transform the innovative technology into direct benefits for consumers.
According to Porsche mouthpiece, the car opening and closing process through the decentralized app take only 1.6 seconds which is up to six times faster than before. The company is currently working on more applications of blockchain technology in areas of charging and parking. Oliver affirmed that the blockchain technology holds enormous potential.
This technology makes it possible to give temporary access authorizations for your vehicle efficiently and securely. The blockchain establishes a protected connection to the vehicle data as well as functionalities. Also, it protects all the communication between the participants.
It’s stated that with this installation, the car becomes part of the blockchain, and access authorizations can be given digitally and securely and monitored by the owner of the vehicle all the time.
Using this as a basis, the future of autonomous driving is likely to witness improved functions on offer. For instance, the local data will be used to obtain regional learning effects, which can also be shared securely with other vehicles
Other companies in the automotive industry testing and experimenting the application of Blockchain technology include the bank UBS, the supplier ZF, and IBM. They are working on what’s known as “Car eWallet,” which would possibly enable secure transactions at charging stations, car parks, and toll stations.